Examlex
How might a monopolistically competitive firm continually earn economic profit greater than zero?
Responsible Corporate Officer Doctrine
A legal principle that holds company executives personally liable for the illegal actions of their company if they were in a position to prevent the actions.
Personally Liable
The legal responsibility of an individual to settle a debt or obligation from their own assets.
False Pretenses
A fraudulent and intentional misrepresentation of fact made by one person to another to induce the other to give up some valuable thing or relinquish a legal right.
Ponzi Scheme
A fraudulent investment scam promising high rates of return with little risk, which pays profits to earlier investors with funds from more recent investors.
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